Shari Redstone may have another offer on the table to buy National Amusements Inc., the controlling shareholder of Paramount Global — the latest twist in the months-long M&A drama swirling around the troubled media conglomerate.
Erstwhile media mogul Edgar Bronfman Jr. is teaming with investment firm Bain Capital to put together an offer of up to $2.5 billion for Redstone’s National Amusements, sources /confirm/ied. NAI owns 77% of the voting shares in Paramount.
At this point, Bronfman and Bain have not made a formal offer to buy NAI. Bronfman and Bain Capital’s prospective bid was first reported by the Wall Street Journal.
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